How to read charts?

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VooDooMan

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Hi Guys,

Newbie here so hopefully someone can point me in the right direction.

I am looking for a resource / book / website to help me with charts and how to read them, identify patterns and implement strategies etc. I am only trading the Dow (not the daily) at the mo and seem to be breaking even over the last couple of months. I don't have a strategy but am making decisions based on news announced on cnbc.com. I seem to be staying in positions a little too long and missing out on profits.

Apologies if this has been covered on another thread but I couldn't find anything specific to my query when I did a search.

Thanks for your help!

Cheers,
J
 
two books.... market wizards and getting started in technical analysis. Both by Jack D, Schwager
 
VooDooMan said:
Hi Guys,

Newbie here so hopefully someone can point me in the right direction.

I am looking for a resource / book / website to help me with charts and how to read them, identify patterns and implement strategies etc. I am only trading the Dow (not the daily) at the mo and seem to be breaking even over the last couple of months. I don't have a strategy but am making decisions based on news announced on cnbc.com. I seem to be staying in positions a little too long and missing out on profits.

Apologies if this has been covered on another thread but I couldn't find anything specific to my query when I did a search.

Thanks for your help!

Cheers,
J
Click to expand...
For a light-hearted look at some charts by video try ezeetrader.co.uk. You can sign up to their free twice weekly updates on various indices. This is based on looking at candles, support and resistance, trends.

Here is an example of one of their videos - not too deep or complex, but will give you a feel of one way to look at charts

http://www.ezeetrader.co.uk/videos/270607.html

Charlton
 
VooDooMan said:
Hi Guys,

Newbie here so hopefully someone can point me in the right direction.

I am looking for a resource / book / website to help me with charts and how to read them, identify patterns and implement strategies etc. I am only trading the Dow (not the daily) at the mo and seem to be breaking even over the last couple of months. I don't have a strategy but am making decisions based on news announced on cnbc.com. I seem to be staying in positions a little too long and missing out on profits.

Apologies if this has been covered on another thread but I couldn't find anything specific to my query when I did a search.

Thanks for your help!

Cheers,
J
Click to expand...

http://www.incrediblecharts.com/technical/chart_basics.htm
 
Hey guys!

Thanks a million for your help. Something tells me I'm going to have a busy weekend ; )

See you all soon.

Cheers,
J
 
hey VooDooman.

Bulkowski's Encyclopedia of Chart Patters is my fav book. It is pricey, but mine paid for itself in one trade(which I got from the book).

Steve Nissons candlestick book is really good. Again this one paid for itself.

Also J if you don't have a strategy you might want to stop trading until you do. Just a bit of advice.

If you want to chat PM me. I can also point you in the direction of some free ebooks.

Cheers - Paul.
 
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